Singapore Stock Market- Forecast and Technical Outlook for 1st March 2011

MARKET REVIEW
STI opens and closed above 3000 @ 3010.51 after that made a low of 2988.10, but cant sustains there and recovers from its low and maintains itself to close above 3000 mark. STI breached its support level of 2990 and made a low of 2988 but finally close for the day @ 3010.51 with loss of 14.65 points down by 0.48%.

MARKET FORECAST
As we told in our weekly report that STI trading @ its up slopping trend line and trying to maintain itself above this trend line and today also it were closed above this trend line and not sustains below this which is good sign of recovery, If STI will maintain this level than it can go upwards and if it can't sustains and we can see more down trend in the market.

SUPPORT
STI having strong support @ 2985 level if STI breached this level than it can go for 2965-2945-2920 level soon as STI having its 76.40% retracement level @2921 level so this level will act as a strong support zone for Market.
RESISTANCE
STI having Resistance @ 3035 which is a good Resistance zone as STI were not able to sustain this level from past 2 days and if sustains than next higher level comes @ 3070-3100.

Straits Times Index Technical View and Market Forecast 25th February 2011


MARKET REVIEW
STI opens above 3000 @ 3001.85 after that made a high of 3006.58 but can not sustains there and in continuation of past 3 days it were make a low of 2965.24 and after that closed @ 2973.08. STI breached its support level of 2990 and close for the day @ 2973.08 after making a low of 2965.24 finally lose 28.77 points down by 0.96%.

MARKET FORECAST FOR TOMORROW- 
 
STI trading in a down trend and it were taking support @ its up sloping trend line, but today it breached this trend line and closed below this , as STI breached its major support levels 1st its 61.8% retracement @ 3058.60 and 3055.56 which is its 200 Day MA level, and today it were closed below its 2990 level and still looking bearish.

SUPPORT
STI made a low of 2965.24 below its major support level of 2990 and above 2950, and now from this level its next support comes @ 2950 and if it will sustains this level than it can move towards 2920-2890 level soon.

RESISTANCE
STI having Resistance @ 2990 which is its previous support level and above this 3016-3050 will be the Resistance zone for the market.

Straits Times Index : Levels and Technical Outlook

STI today opens near to previous support of 3020 @ 3019.12 and after that it was not sustain that level and breached our support level of 2990 and made a low of 2988.52 but closed above 3000 mark with recovery from day's low.
STI closed today just above its 3000 mark @ 3001.85, made a low of 2988.52 and finally closed with loss of 17.27 points down by 0.57%.

Market Forecast For Tomorrow-

Tomorrow when STI were breached its major support levels 1st its 61.8% retracement @ 3058.60 and 3055.56 which is its 200 Day MA level, then it formed a long bearish candle which denotes the bears are rules the market and in back of this today is also market follows a down trend and breached its support level and now it can move more 100-150 points from this level.


SUPPORT

As today STI made a low of 2988 but closed above 3000 mark so from this level STI still having major Support @ 2990 level and if STI can sustain this level than it can move more down side up to 2950-2920

RESISTANCE
STI having Resistance @ 3056 its 200 Day MA level and if sustains this than can go for 3070-3100